Blue Owl Capital Corporation $OBDC Shares Bought by Bulldog Investors LLP

Key Points

• Bulldog Investors LLP increased its stake in Blue Owl Capital Corporation by 42% in the first quarter, buying 100,094 additional shares and bringing its total to 338,369 shares worth about $3.74 million.
• Blue Owl Capital missed earnings estimates in its latest quarterly report, posting EPS of $0.31 versus the expected $0.35 and revenue of $391 million versus forecasts of $422.02 million.
• The company recently paid a quarterly dividend of $0.31 per share, which annualizes to an 11.4% yield, though the payout ratio is elevated at 177.14%.

Bulldog Investors LLP grew its stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 42.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 338,369 shares of the company's stock after purchasing an additional 100,094 shares during the period. Bulldog Investors LLP owned about 0.07% of Blue Owl Capital worth $3,742,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in OBDC. Spire Wealth Management lifted its stake in shares of Blue Owl Capital by 29.1% in the 4th quarter. Spire Wealth Management now owns 3,680 shares of the company's stock valued at $46,000 after purchasing an additional 830 shares during the period. Golden State Equity Partners grew its position in Blue Owl Capital by 1.8% during the fourth quarter. Golden State Equity Partners now owns 46,405 shares of the company's stock valued at $577,000 after buying an additional 836 shares during the period. IFP Advisors Inc grew its position in Blue Owl Capital by 79.6% during the third quarter. IFP Advisors Inc now owns 2,096 shares of the company's stock valued at $27,000 after buying an additional 929 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Blue Owl Capital by 6.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 14,878 shares of the company's stock valued at $185,000 after buying an additional 964 shares in the last quarter. Finally, BlueStem Wealth Partners LLC increased its holdings in Blue Owl Capital by 2.8% in the fourth quarter. BlueStem Wealth Partners LLC now owns 35,443 shares of the company's stock valued at $441,000 after buying an additional 978 shares in the last quarter. Institutional investors and hedge funds own 42.83% of the company's stock.

Blue Owl Capital Price Performance

Blue Owl Capital stock opened at $10.88 on Tuesday. The stock has a market capitalization of $5.40 billion, a P/E ratio of 15.54 and a beta of 0.62. The company's fifty day moving average price is $11.02 and its 200 day moving average price is $11.41. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.24 and a current ratio of 1.24. Blue Owl Capital Corporation has a 1 year low of $10.52 and a 1 year high of $15.15.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.04). Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%.The company had revenue of $391.00 million for the quarter, compared to analyst estimates of $422.02 million. As a group, equities research analysts anticipate that Blue Owl Capital Corporation will post 1.27 earnings per share for the current fiscal year.

Blue Owl Capital Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 11.4%. The ex-dividend date was Tuesday, June 30th. Blue Owl Capital's dividend payout ratio is 177.14%.

Analysts Set New Price Targets

OBDC has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Blue Owl Capital from a "hold" rating to a "sell" rating in a research note on Sunday, July 12th. Wells Fargo & Company cut their price target on Blue Owl Capital from $12.00 to $11.00 and set an "equal weight" rating for the company in a research note on Friday, May 8th. Keefe, Bruyette & Woods reduced their price target on Blue Owl Capital from $12.50 to $12.00 and set a "market perform" rating for the company in a report on Thursday, April 16th. Finally, Truist Financial reduced their price target on Blue Owl Capital from $15.00 to $13.00 and set a "buy" rating for the company in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Blue Owl Capital currently has an average rating of "Moderate Buy" and an average price target of $13.00.

About Blue Owl Capital

Blue Owl Capital Corporation NYSE: OBDC is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company's investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments.

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